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Following the example of her hard-working migrant family, Patty Arvielo was 16 years old when she joined the workforce. But at the time she probably had no idea how far she would go in the business world. Today she is the CEO and co-founder of New American Funding (NAF), the largest Latina-owned private mortgage company in the United States.
As a teenager Patty worked at TransUnion Credit where her intellect and efforts earned her a series of promotions. She ascended from an entry-level administrative role to become an assistant vice president at the company. Later she was appointed to lead the operations unit of an independent brokerage firm.
With all her professional experience, and the support of her husband Rick Arvielo, Patty launched New American Funding in 2003. The company today has some 3,500 employees, more than half of which are women and 41% belong to other minority or underrepresented workforce segments. Through her company she has launched initiatives to improve the mortgage lending experiences of Latino and African-American homebuyers.
This Latina business leader is a member of a long list of boards and community councils related to the mortgage and housing industry. Her work has also extended into the education field as she is part of the Leadership Council at the prestigious Kennedy School at Harvard. And this year, in partnership with Vanguard University, Patty announced the creation of the Patty Arvielo School of Business and Management, becoming the first Latina to have a namesake school of this type.